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all stemming from a lack of respect for the price compression resulting from the real estate/credit busting. They really took a beating on the homebuilders. I am increasingly negative on CTX now, for they have large mortgage operations that have to be getting hit hard.

 

Legg Mason's SIV Troubles: Legg Mason said it obtained a letter of credit from an unnamed bank to support its money market fund's holdings of Cheyne Finance, a structured-investment vehicle. The company said in a release that it will take a charge of $142 million, or 41 cents per share after adjustment for incentive compensation and taxes, "principally representing unrealized losses in the SIV securities underlying the support."